First Asset changes risk ratings for mutual funds

First Asset Investment Management Inc. announced on Wednesday it has changed the risk ratings of two of its mutual funds.

The First Asset REIT Income Fund and the First Asset Canadian Dividend Opportunity Fund now have a “low to medium” risk rating. Previously, they both had a “medium” rating.

In a release, First Asset said the changes were based on methodology mandated by the Canadian Securities Administrators, and are not due to adjustments to the funds’ investment objectives, strategies or management.